HWO

High Arctic Announces 2023 Fourth Quarter and Year End Financial and Operating Results and Provides Update on Plan to Reorganize

Retrieved on: 
Monday, April 8, 2024
Element, Create, Government, High, Growth, YTD, HWO, FID, Corporation, Policy, LLP, Acquisition, DLA Piper, Shareholder, Bank statement, Adjustment, TSX, Renting, Safety, NOT, TotalEnergies, Distribution

CALGARY, Alberta, April 08, 2024 (GLOBE NEWSWIRE) -- High Arctic Energy Services Inc. (TSX: HWO) (the “Corporation” or “High Arctic”) released its’ fourth quarter and year-end results today. The audited consolidated financial statements, management discussion & analysis (“MD&A”), and annual information form for the year ended December 31, 2023 will be available on SEDAR at www.sedar.com, and on High Arctic’s website at www.haes.ca. All amounts are denominated in Canadian dollars (“CAD”), unless otherwise indicated.

Key Points: 
  • ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW
    CALGARY, Alberta, April 08, 2024 (GLOBE NEWSWIRE) -- High Arctic Energy Services Inc. (TSX: HWO) (the “Corporation” or “High Arctic”) released its’ fourth quarter and year-end results today.
  • The Corporation is working with DLA Piper (Canada) LLP as legal advisor and Lightyear Capital Inc. as financial advisor on the revised reorganization plan.
  • High Arctic paid out dividends of $2.2 million in 2023 and repurchased 18,296 shares for cancellation.
  • Monthly dividends were suspended on October 23, 2023 to preserve cash to maximize the opportunity to tax-efficiently return capital.

High Arctic to Announce 2023 Fourth Quarter and Full Year Results

Retrieved on: 
Wednesday, April 3, 2024
Financial statement, High, HWO, International, Disclosure, TSX, NOT

CALGARY, Alberta, April 03, 2024 (GLOBE NEWSWIRE) -- High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) intends to release its 2023 fourth quarter and full year results after markets close Friday, April 5, 2024 and has scheduled a conference call to begin at 15:00 pm MT (17:00 pm ET) on Monday, April 8, 2024.

Key Points: 
  • ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW
    CALGARY, Alberta, April 03, 2024 (GLOBE NEWSWIRE) -- High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) intends to release its 2023 fourth quarter and full year results after markets close Friday, April 5, 2024 and has scheduled a conference call to begin at 15:00 pm MT (17:00 pm ET) on Monday, April 8, 2024.
  • The late filing of the 2023 fourth quarter results follows delays in concluding the annual financial statement audit of the Corporation’s business in Papua New Guinea.
  • An audio recording of the conference call will also be available within 24 hours on High Arctic’s website.
  • The Corporation’s annual 2023 disclosure filings including Financial Statements and Management’s Discussion & Analysis will be posted to High Arctic’s website and SEDAR after the results are released.

High Arctic Announces Special General Meeting Results

Retrieved on: 
Thursday, January 11, 2024
Proxy, Special, Meeting, Corporation, TSX, HWO, NOT, Holding company

CALGARY, Alberta, Jan. 11, 2024 (GLOBE NEWSWIRE) -- High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to announce the results of the Special General Meeting of the shareholders of High Arctic held on January 10, 2024 (the “Meeting”). Four shareholders holding a total of 31,634,269 common shares of the Corporation were represented at the Meeting in person or by proxy, representing approximately 64.399% of the total votes attached to all issued and outstanding common shares of the Corporation as of the record date on December 4, 2023.

Key Points: 
  • ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW
    CALGARY, Alberta, Jan. 11, 2024 (GLOBE NEWSWIRE) -- High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to announce the results of the Special General Meeting of the shareholders of High Arctic held on January 10, 2024 (the “Meeting”).
  • In addition, the shareholders approved a resolution fixing the number of directors at four with 27,893,834 or 88.176% of the votes cast by High Arctic shareholders.
  • Accordingly, there was no director vacancy, and no new director was elected at the Meeting.
  • CEO of High Arctic, Mike Maguire, stated “The defeat of the removal resolution at the meeting demonstrates clear support for our Chairman, who elected not to vote his shares, as well as for the Corporation’s Board and Management.

High Arctic Acquires Private Rental Business in Canada

Retrieved on: 
Thursday, December 28, 2023
Family, Small business, NOT, Acquisition, PNG, HWO, International, International Financial Reporting Standards, High, Growth, TSX, HAES, Toronto Stock Exchange, Organization, Airline

CALGARY, Alberta, Dec. 28, 2023 (GLOBE NEWSWIRE) -- High Arctic Energy Services Inc. (TSX: HWO) (the “Corporation” or “High Arctic”) announces that today it has closed the acquisition of Delta Rental Services Ltd. ("Delta") for aggregate purchase consideration of $7 million subject to earn-out provisions, pursuant to a Share Purchase Agreement between High Arctic and the shareholders of Delta (the "Delta Acquisition").

Key Points: 
  • Delta’s business is focussed on pressure control equipment and equipment supporting the high-pressure stimulation of oil and gas wells, along with other well site rental equipment.
  • In its most recently completed financial year, Delta recorded over $8 million in revenue at margins consistent with High Arctic’s Canadian business.
  • Mike Maguire, CEO of High Arctic, said “Delta is an important strategic development for High Arctic.
  • We are excited to be bringing co-founder Mr. JD Morrical and the Delta team into High Arctic.

High Arctic Announces Mailout of Shareholder Meeting Materials

Retrieved on: 
Wednesday, December 20, 2023
NOT, HWO, Letter, Corporation, TSX, Info

CALGARY, Alberta, Dec. 20, 2023 (GLOBE NEWSWIRE) -- High Arctic Energy Services Inc. (TSX: HWO) (the “Corporation” or “High Arctic”) announces that the Management Proxy and Information Circular (the “Info Circ”) for the special meeting of shareholders to be held on January 10, 2024 has been printed and is being mailed out to Shareholders.

Key Points: 
  • NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
  • ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW
    CALGARY, Alberta, Dec. 20, 2023 (GLOBE NEWSWIRE) -- High Arctic Energy Services Inc. (TSX: HWO) (the “Corporation” or “High Arctic”) announces that the Management Proxy and Information Circular (the “Info Circ”) for the special meeting of shareholders to be held on January 10, 2024 has been printed and is being mailed out to Shareholders.
  • The Board of Directors (with the abstention of the Chairman) has addressed the public assertions of VN Capital Management, LLC in a letter to shareholders accompanying the Info Circ.
  • The Directors believe that the Chairman is integral to the sound governance and competent leadership of High Arctic and have unanimously recommended in the Info Circ that shareholders vote against his removal, and withhold votes for the nominees of VN Capital Management, LLC.

High Arctic Announces Renewal of Normal Course Issuer Bid

Retrieved on: 
Wednesday, December 13, 2023
NOT, HWO, APPA, Corporation, TSX, Toronto Stock Exchange, Security (finance)

CALGARY, Alberta, Dec. 13, 2023 (GLOBE NEWSWIRE) -- High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to announce that it has made the necessary filings and received the necessary approvals to conduct a normal course issuer bid (“NCIB”) through the facilities of the Toronto Stock Exchange (“TSX”).

Key Points: 
  • ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW
    CALGARY, Alberta, Dec. 13, 2023 (GLOBE NEWSWIRE) -- High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to announce that it has made the necessary filings and received the necessary approvals to conduct a normal course issuer bid (“NCIB”) through the facilities of the Toronto Stock Exchange (“TSX”).
  • For the six-month period ended November 30, 2023, the average daily trading volume of High Arctic shares was 18,669 leading to a daily NCIB purchase limit of 4,667 common shares.
  • Subject to prescribed rules, High Arctic may also make one block repurchase in any five-day period which exceeds the daily limit.
  • In addition, the purchases by High Arctic under the NCIB may increase liquidity to the Corporation’s shareholders wishing to sell their common shares.

High Arctic Announces Shareholder Meeting Date and Revised Timing of Third Quarter Results Release

Retrieved on: 
Thursday, November 9, 2023
HWO, International, High Arctic relocation, SEDAR, Corporation, High, TSX, Holding company

CALGARY, Alberta, Nov. 08, 2023 (GLOBE NEWSWIRE) -- High Arctic Energy Services Inc. (TSX: HWO) (the “Corporation” or “High Arctic”) announces that it has set a date of January 10, 2024 for a special meeting of shareholders.

Key Points: 
  • CALGARY, Alberta, Nov. 08, 2023 (GLOBE NEWSWIRE) -- High Arctic Energy Services Inc. (TSX: HWO) (the “Corporation” or “High Arctic”) announces that it has set a date of January 10, 2024 for a special meeting of shareholders.
  • It also advises that it will be releasing its third quarter results on Tuesday, November 14, 2023.
  • Given timing considerations associated with the restatement of past interim and annual filings as announced on November 7, 2023, the Corporation has revised the planned release of third quarter results.
  • The Corporation’s Third Quarter Financial Statements and Management’s Discussion & Analysis will be posted to High Arctic’s website and SEDAR after the results are released.

High Arctic Files Restated Disclosures to Correct and Enhance Financial Statement Note Disclosure and Business Segment Information

Retrieved on: 
Tuesday, November 7, 2023
Consolidated, HWO, Conversation, High Arctic camel, Bank statement, Statement of changes in financial position, Analysis, Arctic, Management, TSX, Bookkeeping

The nature of the changes in the filings pertains to additional disclosures, description of accounting judgements, correction of errors in business segment financial allocations, and improving consistency of presentation.

Key Points: 
  • The nature of the changes in the filings pertains to additional disclosures, description of accounting judgements, correction of errors in business segment financial allocations, and improving consistency of presentation.
  • These same additional disclosures are included in the Corporation’s amended and restated 2022 Annual Information Form as well as a more fulsome description of the Corporation’s current business.
  • Specifically, there have been no changes to the Corporation’s Consolidated Statement of Financial Position, Consolidated Statement of Loss and Comprehensive Loss, Consolidated Statement of Changes in Shareholders’ Equity and Consolidated Statement of Cash Flows.
  • High Arctic has also refiled its 2022 Annual Information Form that was originally filed on March 28, 2023.

High Arctic Provides Reorganization and Other Updates

Retrieved on: 
Tuesday, October 24, 2023
HWO, International, FOR, High Arctic relocation, SEDAR, Research, NOT, Corporation, Arctic, High, TSX, Holding company

CALGARY, Alberta, Oct. 23, 2023 (GLOBE NEWSWIRE) -- High Arctic Energy Services Inc. (TSX: HWO) "High Arctic" or the "Corporation” updates shareholders on previously announced reorganization, monthly dividend and the timing for its third quarter results.

Key Points: 
  • ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW
    CALGARY, Alberta, Oct. 23, 2023 (GLOBE NEWSWIRE) -- High Arctic Energy Services Inc. (TSX: HWO) "High Arctic" or the "Corporation” updates shareholders on previously announced reorganization, monthly dividend and the timing for its third quarter results.
  • While the Corporation is optimistic about achieving a reorganization acceptable to shareholders, there is no certainty at this time.
  • An audio recording of the conference call will also be available within 24 hours on High Arctic’s website.
  • The Corporation’s Third Quarter Financial Statements and Management’s Discussion & Analysis will be posted to High Arctic’s website and SEDAR after the results are released.

High Arctic Provides Reorganization and PNG Update

Retrieved on: 
Friday, September 29, 2023
Elk, NOT, FOR, PNG, High Arctic relocation, Corporation, HWO, TSX, Oil, Antelope, Arctic

CALGARY, Alberta, Sept. 28, 2023 (GLOBE NEWSWIRE) -- High Arctic Energy Services Inc. (TSX: HWO) "High Arctic" or the "Corporation” provides an update on the contemplated reorganization of the Corporation, including the associated tax efficient $38.2 million return of capital, the Papua New Guinea focused business spin-out to shareholders, refocus of the Canadian business and an update on its Papua New Guinea (“PNG”) operations.

Key Points: 
  • ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW
    CALGARY, Alberta, Sept. 28, 2023 (GLOBE NEWSWIRE) -- High Arctic Energy Services Inc. (TSX: HWO) "High Arctic" or the "Corporation” provides an update on the contemplated reorganization of the Corporation, including the associated tax efficient $38.2 million return of capital, the Papua New Guinea focused business spin-out to shareholders, refocus of the Canadian business and an update on its Papua New Guinea (“PNG”) operations.
  • The Corporation has received feedback from shareholders and is working with its advisors on the reorganization plan to incorporate key elements of the shareholder feedback.
  • High Arctic observes that the Papua-LNG partners have pushed back guidance for the target final investment decision on the project website https://papualng.com.pg/ to “early 2024”.
  • High Arctic was involved in drilling four of the Antelope field appraisal wells with our heli-portable drilling rigs.